Principles of Microeconomics

Brock University

Introduction to microeconomics. Topics include nature of economics, price system, demand, production and cost, markets and pricing, factor pricing and distribution of income.

24HR Notes for ECON 1P91

Available 24 hours after each lecture

Cornelius Christian

ECON 1P91 Syllabus for Cornelius Christian — Fall 2018

Instructor: Cornelius Christian
Office Hours: 9:30-12:30 on Tuesdays, at PLAZA 445 (or by appointment)!
Lectures: 15:30-17:00, Thursdays, and 14:00-15:30, Fridays at DHOWES
Course Coordinator: Indra Hardeen (email:
(NOTE: Professor Hardeen is your primary contact for this course.)
Tutorials: Tutorials are mandatory, and attendance at them is expected. Tutorials
begin on September 17, 2018.
Teaching Assistants:
Description of Course: This course introduces microeconomic concepts and
methodology. You will learn about basic economic concepts such as scarcity,
opportunity cost, and economic efficiency. Other central themes include supply and
demand, production and costs, game theory, and market failure.
Course objectives: This course’s two objectives are: a) To introduce you to economic
terminology; b) To acquaint you with the economic way of thinking.
Course website:
REQUIRED: Principles of Microeconomics, by Cowen and Tabarrok (MacMillan, 4th
Canadian Edition, 2018)
(Note: This textbook has access to LaunchPad (
launchpad/cowentabarrokecon3e), which provides supplementary support to the
Cellphones Policy: Please do not use cellphones during class. It is distracting to your
fellow students, and to me. You may use laptop computers, but if you wish to do so,
then please sit in the back of the class so that you are not disruptive to others.
Conversation Policy: Please do not have conversations while I am lecturing. It is
disruptive to me and your fellow students.
Attendance Policy: I do not track attendance at lectures. However, if you intend to
leave a lecture early, then please notify me in advance, either verbally or in writing. If
you arrive late, then please seat yourself, quietly, in the back.
Note: We may not cover all of the material here.
1. Introduction
What is Economics? (Chapter 1)
Trade and Comparative Advantage (Chapter 2)
2. Broad Concepts
Supply and Demand (Chapters 3 & 4)
Elasticity (Chapter 5)
Taxes and Subsidies (Chapter 6)
Price Ceilings and Floors (Chapter 8)
International Trade (Chapter 9)
3. The Firm and Production
Market Structure, Output, and Costs (Chapters 10 & 11)!
Perfect Competition (Chapter 12)
Monopoly (Chapter 13)
Oligopoly and Game Theory (Chapter 15)
4. Market Failure
A Role for Government (Chapters 10, 19, & 20)
Economics and Ethics (Chapter 21)
Your course grade will be determined as follows:!
Tutorial Quizes & Assignments: 5%
Tutorial Attendance: 5%!
Midterm 1 (Fri., October 5): 20%
Midterm 2 (Thu., Nov. 15): 20%
Final Exam (TBA, Dec.): 50%!
You are expected to attend all lectures. The midterm will be scheduled during class
time. Proper medical documentation is required for missed exams. If you miss a
midterm, then its weight shall be transferred to the final. The final exam for the
course is cumulative, covering material from the entire term.
Please note that due to the class size, individual feedback on exams is
unavailable. Your Teaching Assistant will go over exams with you.
If you do not submit a quiz on time, or fail to attend a tutorial, then you shall earn a
grade of ZERO. Exceptions are only made for legitimate medical emergencies, religious
holidays, varsity sporting away games, or family exigencies. ‘Family exigencies’ do NOT
include weddings, birthdays, bachelor parties, vacations, etc.
If you have legitimate excuse, and fail to submit a quiz, then your TA may either give
you a make-up quiz, or have the weight of the missed quiz transferred to another quiz.
Academic Integrity:
Statement for undergraduate courses
Academic misconduct is a serious offence. The principle of academic integrity, particularly of doing
one’s own work, documenting properly (including use of quotation marks, appropriate paraphrasing and
referencing/citation), collaborating appropriately, and avoiding misrepresentation, is a core principle
in university study. Students should consult Section VII, “Academic Misconduct”, in the “Academic
Regulations and University Policies” entry in the Undergraduate Calendar, available at http:// to view a fuller description of prohibited actions, and the procedures and penalties.
Plagiarism software:
If plagiarism software is used (, a statement to that effect must be included on the
outline including an option to opt out.
Sample statement regarding
This course may use, phrase-matching software. If you object to uploading your
assignments to for any reason, please notify the instructor to discuss alternative
Intellectual Property Notice:
All slides, presentations, handouts, tests, exams, and other course materials created by the instructor
in this course are the intellectual property of the instructor. A student who publicly posts or sells an
instructor’s work, without the instructor’s express consent, may be charged with misconduct under
Brock’s Academic Integrity Policy and/or Code of Conduct, and may also face adverse legal
consequences for infringement of intellectual property rights.
Academic Accommodation:
As part of Brock University's commitment to a respectful work and learning environment, the University
will make every reasonable effort to accommodate all members of the university community with
disabilities. If you require academic accommodations related to a documented disability to participate
in this course, you are encouraged to contact Student Accessibility Services in the Student Development
Centre (4th floor Schmon Tower, ex. 3240). You are also encouraged to discuss any accommodations
with the instructor well in advance of due dates and scheduled assessments.
Academic Accommodation due to Religious Obligations:
Brock University acknowledges the pluralistic nature of the undergraduate and graduate communities
such that accommodations will be made for students who, by reason of religious obligation, must miss
an examination, test, assignment deadline, laboratory or other compulsory academic event. Students
requesting academic accommodation on the basis of religious obligation should make a formal, written
request to their instructor(s) for alternative dates and/or means of satisfying requirements.
Medical Exemption Policy:
The University will accommodate students whose studies become interrupted, or who may be unable to
complete academic work, due to an incapacitating medical condition. In these situations, the student
must complete the Brock University Student Medical Certificate (or in case of a concussion, the Brock
University Student Health Services Medical Concussion Certificate) and include any relevant medical
documentation to support his/her request for academic accommodation based on medical grounds. The
University may, at its discretion, request more detailed documentation in certain cases.
Registration system closes: September 18, 2018
Thanksgiving weekend: October 8, 2018
Reading week: October 9-12, 2018
Last day to withdraw (without academic penalty): November 6, 2018
Last day of lectures: December 4, 2018

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